TY - JOUR
T1 - A theory of innovation
T2 - Market transition, property rights, and innovative activity
AU - Nee, Victor
AU - Kang, Jeong Han
AU - Opper, Sonja
PY - 2010/9
Y1 - 2010/9
N2 - The aim of this paper is to specify a theory to explain why transitions to a market economy cause a shift to a higher level of innovation. Marketization increases the power of economic actors relative to political actors, increases inter-firm competition, creates new opportunities for entrepreneurship, and subsequently motivates innovative activity. For our empirical application, we focus on China's transition economy, which offers a broad range of institutional environments to examine the relation between market transition and increasing innovative activity by entrepreneurs and firms.
AB - The aim of this paper is to specify a theory to explain why transitions to a market economy cause a shift to a higher level of innovation. Marketization increases the power of economic actors relative to political actors, increases inter-firm competition, creates new opportunities for entrepreneurship, and subsequently motivates innovative activity. For our empirical application, we focus on China's transition economy, which offers a broad range of institutional environments to examine the relation between market transition and increasing innovative activity by entrepreneurs and firms.
UR - http://www.scopus.com/inward/record.url?scp=77958521954&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=77958521954&partnerID=8YFLogxK
U2 - 10.1628/093245610793102152
DO - 10.1628/093245610793102152
M3 - Article
AN - SCOPUS:77958521954
VL - 166
SP - 397
EP - 425
JO - Journal of Institutional and Theoretical Economics
JF - Journal of Institutional and Theoretical Economics
SN - 0932-4569
IS - 3
ER -